The Sui Network ($SUI) keeps breaking records on an almost daily basis. The $SUI token and the Sui ecosystem truly are on fire. But let’s look back for a moment. During the first funding round, in May 2023, the $SUI price was 3 cents. At the current $SUI price of $4.59, that’s a 15,185% ROI. However, if I look at the ATH price of $5.35, that’s a 17,718% ATH ROI.Â
Two months ago, Mattie also covered this topic, on how many $SUI you need to become a millionaire. Check the video here. However, two months ago, the $SUI price was at $2. In the meantime, it did a 2.5x compared to its current price. So, time to check this again.
What Has Been Happening With Sui?
The Sui Network and its ecosystem have been busy in the last 2 months. Very busy. Too much to mention all the news. However, here are some highlights,
There were various token launches in Sui’s ecosystem. Sectors covered include DeFi, Gaming, Casino/Content creation, and AI. The $DEEP token is currently the most successful launch. It went from under 2 cents at launch, to an ATH of 18.5 cents. That’s a 9x right there.Â
More TGEs (token generation events) are coming up. Bucket Protocol launched their $BUT token yesterday. Walrus, a digital storage solution, will launch its $WAL token soon. Walrus will also launch its mainnet during this quarter. The Kriya DEX plans to launch its $KDR token within a few days.
Institutional interest is growing for Sui. Three big names are already involved here. Grayscale has its Sui Trust, and VanEck EU launched a new Sui-backed product in Europe. Sui also has a strategic partnership with Franklin Templeton Digital Assets.
BREAKING : Investment firm @Vaneck_eu has launched a new product representing SUI!
Leveraging Sui’s trustworthy and battle-tested infrastructure, VanEck is bridging the gap between blockchain and traditional finance, offering millions of investors secure access to SUI.… pic.twitter.com/WWjMBT8dcs
Two Solana protocols are coming to Sui. Phantom wallet and Backpack wallet and exchange. This should give a boost to Sui’s ecosystem.
Sui’s TVL reached $2 billion only a week ago. Sui reached $1 billion TVL only 3 months ago. This shows massive growth in its DeFi ecosystem.
Mysticeti V2 is also coming any day now. This is Sui’s updated consensus protocol.
One of the co-founders, Adeniyi Abiodun, recently shared some hot news. According to him, Sui is superior to EVM and non-EVM chains. He predicts that Sui will leave these chains behind.
BREAKING NEWS:
SUI IS GOING TO EAT EVM AND EVEN NON-EVM CHAINS FOR LUNCH – ADENIYI @EmanAbio analyses where he sees EVM and Non-EVM chains going in the future comparing them to Sui.
There are also lots of speculations about the $SUI price. Some influencers on X even predict a $50 price this year.
So, lots of things are happening for Sui and its ecosystem. Only two months ago, we also published this Sui ecosystem video. Check it out.
There seems to be still some room left for $SUI’s price to grow. Where do you see $SUI’s top during this bull run?
TA (Technical Analysis)
Let’s take a look at some TA (technical analysis) for $SUI. I will look at the last two months, since our last video on this topic. Check the chart here.
In the meantime, $SUI reached a new ATH of $5.35. Its current ATL (All-Time Low) is at 36.4 cents, which was on 19th October 2023. I don’t see it going there anytime soon, if ever at all. However, I can see new ATHs on the horizon for $SUI. The token is also up by 257% during the last year.
So, during the last two months, support was at $1.65 during late October. As already mentioned, the current resistance is $5.35. That’s also its current ATH. That was only nine days ago. Anything past this $5.35 barrier, is price discovery. The question is, where will $SUI stop? Is it $10, $25, or even $50? So, let’s take a look at how many $SUI tokens you need to become a millionaire.
How Many $SUI Tokens to Become a Millionaire?
So, I showed you the growth and some of the recent events that happened on Sui. Everything is set to enjoy the next leg up in this bull run. Not only the $SUI token, but also its ecosystem projects. However, we’re here today to see how many $SUI tokens you need to become a millionaire. So, let’s take a closer look at this.
At its current price of $4.60, you will need 217,391 $SUI tokens.
Let’s take a look now at its current ATH of $5.35. Once it reaches that, you will need 186.915 tokens.
Now, I can see $SUI go to $10, no problem. In this case, you will need 100,000 tokens.
So, let’s take this a step further, and look at a $25 $SUI price. To become a millionaire, you will need 40,000 tokens.
And what about $50? In that case, you will need 20,000 tokens.
As the maximum top, let’s take $65 for this bull run. Now you will need 15,385 tokens.
When we last looked at this 2 months ago, we said you needed 50,000 tokens at a $20 $SUI price or 25,000 tokens at a $40 price. So, as you can see, the $SUI price has increased, and now you need less $SUI to become a millionaire.
So, how many $SUI do you already have? Any price under $5 is currently a good entry price. We may not see that back anytime soon.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Sui.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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